CNBC Daily Open: After the Fed’s first cut, where to next?
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
"Attempted assassination"
Republican presidential nominee Donald Trump is safe and unharmed on Sunday after shots were fired in an incident that "appears to be an attempted assassination," said the Federal Bureau of Investigation. U.S. Secret Service officers "opened fire on a gunman located near the property line" of Trump's Florida golf course, Special Agent Rafael Barros said at a press conference. The suspect is in custody.
Best week of 2024
On Friday, the S&P 500 rose 0.54% and the Nasdaq Composite advanced 0.65%, giving both indexes their best week of 2024. The Dow Jones Industrial Average gained 0.72%. Technology and semiconductor stocks continued driving U.S. markets higher. Meanwhile, the pan-European Stoxx 600 index added 0.76%, and ended the week 1.09% higher.
China's economy is still struggling
A slew of data released Saturday by China's National Bureau of Statistics missed expectations. Retail sales rose by 2.1% in August from a year ago, lower than economists' forecast of a 2.5% growth and the 2.7% increase in July. Industrial production rose by 4.5%, slowing down from 5.1% in July and missing expectations of 4.8% growth.
Discount retailers no more?
The rock-bottom prices of retailers Shein and Temu could be no more if the Biden administration clamps down on their use of a loophole to avoid paying tariffs. Known as the de minimis loophole, the provision allows packages less than $800 to enter the U.S. with less scrutiny and without paying import duties.
[PRO] Christmas for investors
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